The composition of the Fingroup Fund portfolio is as follows:

Stock		Shares		Price
	A	330,000		$30
	B	430,000		35
	C	530,000		15
	D	730,000		20

If during the year the portfolio manager sells all of the holdings of stock D and replaces it with 200,000 shares of stock E at $40 per share and 200,000 shares of stock F at $33 per share, what is the portfolio turnover rate? (Round your answer to 2 decimal places.)

Turnover rate

%